12 Oct 2011 15:56
DCD Media plc (the "Company")
Update re Subscription
Further to the announcements on 1 September and 30 September 2011, the Company announces that it has now closed the Subscription, which has raised proceeds of £795,000 (before expenses). Participants in the Subscription include the following:
Name | Number of Subscription Shares | Total number of Ordinary Shares following the Subscription | Percentage of enlarged issued share capital |
Henderson | 27,500,000 | 39,885,996 | 28.27% |
David Green* | 20,000,000 | 24,246,614 | 17.18% |
Henry Kronsten | 15,000,000 | 15,500,000 | 10.99% |
Liam Hamilton*** | 5,000,000 | 5,174,507 | 3.67% |
Sammy Nourmand** | 4,000,000 | 4,452,972 | 3.16% |
Adrian Sington** | 3,000,000 | 3,272,157 | 2.32% |
Others | 5,000,000 | - | - |
TOTAL | 79,500,000 | - | - |
* director of the Company
** current subsidiary director
*** subsidiary director within the preceding twelve months
Henderson (as a substantial shareholder), David Green (as a director of the Company), Sammy Nourmand and Adrian Sington (as current subsidiary directors), and Liam Hamilton (as a subsidiary director within the preceding twelve months) are considered related parties under the AIM Rules. Therefore the subscription of Subscription Shares by them is considered a related party transaction under the AIM Rules. The Independent Director (Tarik Wildman) considers, having consulted with Evolution Securities, the Company's nominated adviser, that the terms of the related party transactions are fair and reasonable insofar as the Company's shareholders are concerned.
Application will be made to the London Stock Exchange for 79,500,000 Subscription Shares to be admitted to trading on AIM. It is expected that Admission will occur on 21 October 2011. Allotment and therefore Admission of the Subscription Shares is subject to the receipt of funds by the Company from participants in the Subscription prior to the date of Admission. The Subscription Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares following Admission including the right to receive dividends and other distributions declared following Admission.
12 October 2011
For further information please contact:
David Green, Chief Executive
DCD Media plc
Tel. 020 8563 6976
Jeremy Ellis or Chris Clarke
Evolution Securities
Tel. 020 7071 4300